PUBLIC LAW 107-297—NOV. 26, 2002 116 STAT. 2327 (16) RULE OF CONSTRUCTION FOR DATES. —With respect to any reference to a date in this title, such day shall be construed— (A) to begin at 12:01 a.m. on that date; and (B) to end at midnight on that date. SEC. 103. TERRORISM INSURANCE PROGRAM. (a) ESTABLISHMENT OF PROGRAM.— (1) IN GENERAL. —There is established in the Department of the Treasury the Terrorism Insurance Program. (2) AUTHORITY OF THE SECRETARY.— Notwithstanding any other provision of State or Federal law, the Secretary shall administer the Program, and shall pay the Federal share of compensation for insured losses in accordance with subsection (e). (3) MANDATORY PARTICIPATION.— Each entity that meets the definition of an insurer under this title shall participate in the Program. (b) CONDITIONS FOR FEDERAL PAYMENTS. —No payment may be made by the Secretary under this section with respect to an insured loss that is covered by an insurer, unless— (1) the person that suffers the insured loss, or a person acting on behalf of that person, files a claim with the insurer; (2) the insurer provides clear and conspicuous disclosure to the policyholder of the premium charged for insured losses covered by the Program and the Federal share of compensation for insured losses under the Program— (A) in the case of any policy that is issued before Deadline, the date of enactment of this Act, not later than 90 days after that date of enactment; (B) in the case of any policy that is issued within 90 days of the date of enactment of this Act, at the time of offer, purchase, and renewal of the policy; and (C) in the case of any policy that is issued more than 90 days after the date of enactment of this Act, on a separate line item in the policy, at the time of offer, purchase, and renewal of the policy; (3) the insurer processes the claim for the insured loss in accordance with appropriate business practices, and any reasonable procedures that the Secretary may prescribe; and (4) the insurer submits to the Secretary, in accordance with such reasonable procedures as the Secretary may establish— (A) a claim for payment of the Federal share of compensation for insured losses under the Program; (B) written certification— (i) of the underlying claim; and (ii) of all pa5Tnents made for insured losses; and (C) certification of its compliance with the provisions of this subsection. (c) MANDATORY AVAILABILITY. — (1) INITIAL PROGRAM PERIODS. — During the period beginning on the first day of the Transition Period and ending on the last day of Program Year 2, each entity that meets the definition of an insurer under section 102—
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